BlockBeats News, May 12th, according to GMGN monitoring, the market cap of the Ethereum Meme coin sato surged 70% in the past 1 hour, reaching a peak of $38.3 million, and is now trading at $37.8 million, with a 24-hour trading volume of $4.5 million.

Reportedly, during the surge, multiple platforms experienced a "flash crash," where the price momentarily dropped to $23 million after breaking the new high, then swiftly rebounded.

Furthermore, the mechanism coin sat1, also based on the Uniswap v4 hook concept, has been struggling recently, currently holding a market cap of only $440,000, with a 23% price drop in the last 24 hours.

BlockBeats Note: Meme coins are highly volatile, relying heavily on market sentiment and concept speculation, lacking practical value or use cases. Investors should be cautious of the risks involved.